Barclays has made cuts of up to 0.41 percentage points to 60% of its Woolwich fixed rate mortgage range.

The Great Escape fixed for two years at 75% loan to value (LTV) sees the largest fall from 3.79% to 3.38%.

Cuts of up to 0.36 percentage points will also take place for the second time this month at 80% and 85% LTV on two and three year fixed rates. At 80% LTV the two year fixed will reduce from 3.59% to 3.38% for customers who qualify for a Barclays Loyalty mortgage and 3.48% for all other customers. At three years it will reduce from 4.13% to 3.89%. The 85% LTV fixed for three years will fall from 4.49% to 4.13%.

Cuts will also take place on the five year deals at these LTVs, meaning the cheapest five year is 4.39% (80% LTV).

Other rate reductions include a two year fixed rate at 75% (LTV), cut from 2.89% to 2.79% for customers who qualify for a Barclays Loyalty mortgage and 2.87% for all other customers

Andy Gray, head of mortgages for Barclays, said: “The mortgage market continues to be fiercely competitive which has been driven by falling swap rates. This is good news for borrowers as they have the opportunity to fix at a lower rate than they may currently be paying